Iran’s oil production increased by 20,000 barrels in July
Report Mehr News Agency quoted by the Secretariat of the Organization of the Petroleum Exporting Countries (OPEC), the OPEC August report published on Monday (August 22) shows that According to the report of secondary sources in July (July-August), the 12 members of this organization produced 26,746,000 barrels of oil, which is 185,000 barrels more than 26,562,000 barrels in June.
According to OPEC’s August report, after Saudi Arabia with daily production of 9 million and 15 barrels and Iraq with production 4 million and 251 thousand barrels per day, Iran maintained the position of the third producer of this organization with a daily production of 3 million and 271 thousand barrels.
According to the report of secondary sources, Iran produced 3 million and 271 thousand barrels of crude oil in July (July – August), which is 20 thousand barrels more than in June 2024 (June – July). ) has been.
According to this report, the production of eight members of this organization increased during the period under review, and the largest increase in production with 97 thousand barrels per day is related to Saudi Arabia. Iran, Venezuela and Libya are exempt from the agreement to reduce the supply of producers of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC (OPEC Plus).
According to the latest OPEC monthly report, the price of Iran’s heavy crude oil in July increased by 92 cents, equivalent to 1.1%, compared to June 2024. The price of Iranian heavy crude oil in July 2024 was recorded at 84 dollars and 57 cents, while this figure was 83 dollars and 65 cents per barrel in June 2024.
The average price of Iranian heavy crude oil in 2024 was 83 dollars and 62 cents. The price of the OPEC oil basket also reached 84 dollars and 43 cents per barrel in July 2024, which is 1 dollar and 21 cents (1.1%) more than in June 2024.
According to the latest monthly report of the OPEC Secretariat (August), the global demand for crude oil for 2024 will be 2 million and 250 thousand barrels will increase daily. The total world oil demand for 2024 is predicted to be 104 million and 460 thousand barrels, while this figure was unchanged in the estimate of the August report for the month of June. /p>
OPEC, in its monthly report, also predicted that global oil demand would increase by 1.85 million barrels per day in 2025, reaching a total of 106.310 million barrels per day.
